Latest news with #SoharInternational
Zawya
2 days ago
- Business
- Zawya
Oman: Strategic credit facility agreement valued at $163mln signed
Muscat: In a significant move to advance economic growth and sustainable urban development, Sohar International and Al Mouj Muscat have signed a Memorandum of Understanding for a strategic credit facility agreement valued at OMR63 million to Al Mouj Muscat. This agreement reflects the shared commitment of all parties to support the Sultanate's long-term prosperity through innovation, high-quality urban development, and strong financial stewardship enabled by trusted institutional partnerships. Abdulwahid Al Murshidi, Chief Executive Officer of Sohar International, said: 'At Sohar International, we take great pride in actively contributing to the Sultanate's infrastructure development, which is central to Oman's broader national growth agenda. Our support for Al Mouj Muscat visionary project through this strategic credit facility reflects our commitment to empowering landmark initiatives that drive economic diversification and position Oman as a leading destination for investment and tourism. As we continue to deliver innovative financial solutions tailored to the ambitions of our partners, we remain steadfast in our vision to offer an integrated banking experience that creates sustainable value for our clients and contributes meaningfully to the national economy.' Structured as a combination of term and revolving loan facilities, the agreement provides Al Mouj Muscat with the financial flexibility to accelerate ongoing and future developments, enhance operational efficiency, and pursue strategic expansion. This support will not only strengthen its diverse portfolio of residential, commercial, and hospitality assets but also enable the delivery of elevated experiences that meet the evolving expectations of its community, investors, and partners—setting new benchmarks for excellence in the real estate sector within the Sultanate. Nasser Al Sheibani, CEO of Al Mouj Muscat, commented: 'Since the inception of Al Mouj Muscat in 2006, we have shouldered a great responsibility to become Omans' premier waterfront development and also a benchmark project for integrated mix-use developments. This agreement with Sohar International is a testament to the strength of our financial position and a clear vote of confidence in our vision for the future of the project'. The facility also underscores the strength and maturity of Oman's banking sector, highlighting the power of national institutional collaboration in advancing economic diversification. With this agreement, Al Mouj Muscat reinforces its foundation to create long-term value and solidify its position as a dynamic hub for lifestyle, leisure, and investment in the Sultanate. This partnership also reflects Sohar International's broader mandate to deliver impactful financial solutions that foster socio-economic progress, generate employment, and attract sustainable investment. By focusing on high-impact sectors, the Bank remains committed to building strategic partnerships that accelerate development and contribute to shaping a resilient and forward-looking national economy. © Muscat Media Group Provided by SyndiGate Media Inc. (
Times of Oman
2 days ago
- Business
- Times of Oman
Strategic credit facility agreement valued at OMR63mn signed
Muscat: In a significant move to advance economic growth and sustainable urban development, Sohar International and Al Mouj Muscat have signed a Memorandum of Understanding for a strategic credit facility agreement valued at OMR63 million to Al Mouj Muscat. This agreement reflects the shared commitment of all parties to support the Sultanate's long-term prosperity through innovation, high-quality urban development, and strong financial stewardship enabled by trusted institutional partnerships. Abdulwahid Al Murshidi, Chief Executive Officer of Sohar International, said: 'At Sohar International, we take great pride in actively contributing to the Sultanate's infrastructure development, which is central to Oman's broader national growth agenda. Our support for Al Mouj Muscat visionary project through this strategic credit facility reflects our commitment to empowering landmark initiatives that drive economic diversification and position Oman as a leading destination for investment and tourism. As we continue to deliver innovative financial solutions tailored to the ambitions of our partners, we remain steadfast in our vision to offer an integrated banking experience that creates sustainable value for our clients and contributes meaningfully to the national economy.' Structured as a combination of term and revolving loan facilities, the agreement provides Al Mouj Muscat with the financial flexibility to accelerate ongoing and future developments, enhance operational efficiency, and pursue strategic expansion. This support will not only strengthen its diverse portfolio of residential, commercial, and hospitality assets but also enable the delivery of elevated experiences that meet the evolving expectations of its community, investors, and partners—setting new benchmarks for excellence in the real estate sector within the Sultanate. Nasser Al Sheibani, CEO of Al Mouj Muscat, commented: 'Since the inception of Al Mouj Muscat in 2006, we have shouldered a great responsibility to become Omans' premier waterfront development and also a benchmark project for integrated mix-use developments. This agreement with Sohar International is a testament to the strength of our financial position and a clear vote of confidence in our vision for the future of the project'. The facility also underscores the strength and maturity of Oman's banking sector, highlighting the power of national institutional collaboration in advancing economic diversification. With this agreement, Al Mouj Muscat reinforces its foundation to create long-term value and solidify its position as a dynamic hub for lifestyle, leisure, and investment in the Sultanate. This partnership also reflects Sohar International's broader mandate to deliver impactful financial solutions that foster socio-economic progress, generate employment, and attract sustainable investment. By focusing on high-impact sectors, the Bank remains committed to building strategic partnerships that accelerate development and contribute to shaping a resilient and forward-looking national economy.
2 days ago
- Business
Sohar International, Al Mouj sign MoU for RO63mn credit facility
Muscat – Sohar International and Al Mouj Muscat have signed a Memorandum of Understanding (MoU) for a strategic credit facility agreement valued at RO63mn to Al Mouj Muscat. Structured as a combination of term and revolving loan facilities, the agreement provides Al Mouj Muscat with the financial flexibility to accelerate ongoing and future developments, enhance operational efficiency, and pursue strategic expansion. This support will not only strengthen Al Mouj's diverse portfolio of residential, commercial, and hospitality assets but also enable the delivery of elevated experiences that meet the evolving expectations of its community, investors, and partners. In a press statement, Abdulwahid al Murshidi, Chief Executive Officer of Sohar International, said, 'At Sohar International, we take great pride in actively contributing to the sultanate's infrastructure development, which is central to Oman's broader national growth agenda. Our support for Al Mouj Muscat visionary project through this strategic credit facility reflects our commitment to empowering landmark initiatives that drive economic diversification and position Oman as a leading destination for investment and tourism.' Nasser al Sheibani, CEO of Al Mouj Muscat, said, 'Since the inception of Al Mouj Muscat in 2006, we have shouldered a great responsibility to become Omans' premier waterfront development and also a benchmark project for integrated mix-use developments. This agreement with Sohar International is a testament to the strength of our financial position and a clear vote of confidence in our vision for the future of the project.' The credit facility also underscores the strength and maturity of Oman's banking sector, highlighting the power of national institutional collaboration in advancing economic diversification. With this agreement, Al Mouj Muscat reinforces its foundation to create long-term value and solidify its position as a dynamic hub for lifestyle, leisure, and investment in the sultanate.
Zawya
2 days ago
- Business
- Zawya
Sohar International & Al Mouj Muscat sign MoU for strategic credit facility agreement valued at OMR 63mln
Muscat: In a significant move to advance economic growth and sustainable urban development, Sohar International and Al Mouj Muscat have signed a Memorandum of Understanding for a strategic credit facility agreement valued at OMR 63 million to Al Mouj Muscat. This agreement reflects the shared commitment of all parties to support the Sultanate's long-term prosperity through innovation, high-quality urban development, and strong financial stewardship enabled by trusted institutional partnerships. Mr. Abdulwahid Al Murshidi, Chief Executive Officer of Sohar International, said: 'At Sohar International, we take great pride in actively contributing to the Sultanate's infrastructure development, which is central to Oman's broader national growth agenda. Our support for Al Mouj Muscat visionary project through this strategic credit facility reflects our commitment to empowering landmark initiatives that drive economic diversification and position Oman as a leading destination for investment and tourism. As we continue to deliver innovative financial solutions tailored to the ambitions of our partners, we remain steadfast in our vision to offer an integrated banking experience that creates sustainable value for our clients and contributes meaningfully to the national economy.' Structured as a combination of term and revolving loan facilities, the agreement provides Al Mouj Muscat with the financial flexibility to accelerate ongoing and future developments, enhance operational efficiency, and pursue strategic expansion. This support will not only strengthen its diverse portfolio of residential, commercial, and hospitality assets but also enable the delivery of elevated experiences that meet the evolving expectations of its community, investors, and partners—setting new benchmarks for excellence in the real estate sector within the Sultanate. Mr. Nasser Al Sheibani, CEO of Al Mouj Muscat, commented: 'Since the inception of Al Mouj Muscat in 2006, we have shouldered a great responsibility to become Omans' premier waterfront development and also a benchmark project for integrated mix-use developments. This agreement with Sohar International is a testament to the strength of our financial position and a clear vote of confidence in our vision for the future of the project'. The facility also underscores the strength and maturity of Oman's banking sector, highlighting the power of national institutional collaboration in advancing economic diversification. With this agreement, Al Mouj Muscat reinforces its foundation to create long-term value and solidify its position as a dynamic hub for lifestyle, leisure, and investment in the Sultanate. This partnership also reflects Sohar International's broader mandate to deliver impactful financial solutions that foster socio-economic progress, generate employment, and attract sustainable investment. By focusing on high-impact sectors, the Bank remains committed to building strategic partnerships that accelerate development and contribute to shaping a resilient and forward-looking national economy. About Sohar International: Sohar International is Oman's fastest-growing bank, guided by a clear vision to become a world-leading Omani service company that helps customers, communities, and people prosper and grow. With a purpose to help people 'win' by delivering responsive banking for their ever-changing world, the bank offers innovative solutions across Commercial and Investment Banking, Wealth Management, Islamic Banking, and more. Operating with a strong digital-first approach and an expanding regional footprint—including presence in the Kingdom of Saudi Arabia—Sohar International is committed to driving value through strategic partnerships and a dynamic customer experience. Learn more at
Zawya
3 days ago
- Business
- Zawya
Sohar International honored with three awards at NABS 2025
Muscat: Reaffirming its stature as a multifaceted banking leader—defined by strong growth, purposeful innovation, and societal impact, Sohar International was honored with three prestigious accolades at the Oman Banking and Finance Awards, held during the landmark 10th edition of the New Age Banking Summit (NABS) 2025: Best Digital Transformation Initiative, Most Innovative CSR Initiative, and Best Bank – Growth. These recognitions underscore the bank's ability to navigate market dynamics while delivering lasting value to stakeholders and contributing to Oman's broader socio-economic ambitions. Held under the patronage of H.E. Ahmed bin Ja'afer Al Musalmi, Governor of the Central Bank of Oman, and hosted by H.E. Shaikh Salim Bin Mustahail Al Mashani, with support from the Oman Banks Association, NABS 2025 brought together top financial leaders, innovators, and policymakers under the theme 'The Future of Banking: Navigating Disruption, Sustainability & Customer- Centric Innovation'. Commenting on the occasion, Mr. Abdulwahid Mohamed Al Murshidi, Chief Executive Officer at Sohar International, stated, 'These awards are a reflection of our collective ethos, one that integrates future-forward thinking with impact-led execution. At Sohar International, we do not pursue innovation as a trend, but as a means to elevate the human experience, foster economic vitality, and create ripple effects that benefit society at large. Whether through breakthrough technologies, performance-driven financial strategy, or inclusive social initiatives, we remain committed to being a bank that keeps pace with evolving landscapes while building a strong future for generations to come.' Revered as the largest conference of its kind in Oman's banking and non-banking financial sector, NABS 2025 convened over 150 C-level delegates and decision-makers from more than 100 banking, fintech, and technology firms. Against this backdrop, Sohar International's accolades reflected its multidimensional strengths and forward-looking approach to banking. The Best Digital Transformation Initiative award recognized the bank's success in deploying intelligent platforms and streamlining operations to offer seamless, customer-centric digital experiences—embedding agility and responsiveness across its ecosystem. This spirit of innovation extended to social impact, earning Sohar International the Most Innovative CSR Initiative award for its 'Every Like Adds Light' campaign. Launched during Ramadan, the initiative transformed every social media interaction into a charitable donation—amassing over 600,000 engagements and mobilizing nationwide goodwill into tangible support for philanthropic causes. Anchoring these achievements was the Best Bank – Growth award, where Sohar International led across all key growth indicators—gross loans, customer deposits, fee income, operating profit, and net worth—within the large-bank category. The winners of this year's Oman Banking and Finance Awards were selected through an extensive survey conducted by OER and United Securities, evaluating banks and NBFCs on key financial metrics from year 2021 to 2024. Key themes explored at the summit included the role of AI and machine learning in enhancing operations and customer engagement, the acceleration of digital transformation, evolving cybersecurity frameworks, open banking and FinTech collaboration, and the growing importance of ESG in shaping sustainable financial strategies. About Sohar International With the vision to become a world-class Omani services company that helps customers, community and people to prosper and grow, Sohar International operates with a purpose to help people 'win' by delivering responsive banking for their ever-changing world, complementing their growth and prosperity with international standard service delivery. The Bank seeks to redefine banking in Oman through transformational developments centred on the principles of More Velocity, making everything simple and fast; More Value, ensuring relevance and connectivity to customers' world; and More Vision, liberating stakeholders through talented leadership.
